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On Jan 1, 2024, June Bug Inc. (JBI) reports a lease liability of $50,000. JBI's IBR is 10%. The interest rate implicit in the lease

On Jan 1, 2024, June Bug Inc. (JBI) reports a lease liability of $50,000. JBI's IBR is 10%. The interest rate implicit in the lease is 8%. The next lease payment is due Jan 1, 20X5. What would be reported on JBI's December 31, 20X4 balance sheet as a lease liability? $55,000 $54,000 $50,000 $5,000 $4,000

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